Gold Price in Pakistan Drops by Rs5,200 Per Tola as International Gold Falls Below $4,000

The gold price in Pakistan witnessed another sharp decline on Tuesday, with the price of 24-karat gold per tola falling by Rs5,200, following continued weakness in the international bullion market.

According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold per tola dropped to Rs419,636, marking the fifth consecutive day of declines in both local and global gold markets.

The price of 10 grams of 24-karat gold also decreased by Rs4,458, settling at Rs359,770.

Meanwhile, the international gold price fell by $52 per ounce, pushing the precious metal below the $4,000 mark. Gold was trading at $3,972 per ounce, reflecting continued pressure in the global bullion market.

The downward trend in international prices has directly impacted the gold rate in Pakistan, resulting in significant relief for buyers after weeks of elevated prices.

Silver prices also moved lower. The price of silver per tola declined by Rs107 to Rs6,242, according to the association.

Market analysts say local gold prices are closely linked to movements in the international market and fluctuations in the Pakistani rupee. Any further changes in global economic conditions, interest rate expectations, or currency trends could influence gold prices in the coming days.

Consumers and investors are advised to monitor the latest gold price in Pakistan regularly as the market remains highly volatile.